As per Realme CEO Madhav Seth’s tweet, the change in smartphone prices may happen only after Diwali.
Oppo offshoot Realme, a company which has quickly grown in popularity in India, mostly due to its aggressive pricing and wafer-thin profit margins, will likely raise the price of its smartphones after Diwali.
The news was made clear by the CEO of Realme, Madhav Seth in a tweet where he blames the falling Rupee, forcing the company to rework the pricing of their phones. Seth does not explicitly say that the prices of all Realme phones will definitely see a hike but does mention that the company will have to « upgrade the pricing » in order to continue to be in business.
Realme 2 is one of the best phones you can buy under Rs 10,000 right now. Image: tech2/ Prannoy Palav
A company which began business in India as recently as May with the launch of the Realme 1, has already launched four smartphones at different price points and has gained a lot of popularity among the masses. However, with the Rupee touching an all-time low of 74.22 per US dollar in early October, things do not appear to be ideal for the company.
The rupee rates are falling and as a brand we actually work on low margins. It indicates that we might have to upgrade the pricing, just to make sure that we continue to give you the best technology in our upcoming offerings. We are trying to figure out a solution post Diwali.????
— Madhav Sheth (@MadhavSheth1) November 2,2018
As per a report by Canalys, Realme’s sales number are quite healthy. Being an online-only brand as of now, the company shipped as many as 80,000 units in the last quarter.
Having launched the Realme 2 Pro, the company’s flagship offering which starts at Rs 13,990, sales are expected to rise further. Alongside the launch of the Realme 2 Pro, we also saw the launch of its latest entry-level offering, the Realme C1 which starts at Rs 6,999.
If you are planning to buy a Realme smartphone before Diwali, however, you are assured that the increase in prices will happen after that. As for the hike in prices, we will keep you updated as and when it happens.
